Remittances to Uzbekistan grow 21% in April–June, reaching $4.8 billion

In the second quarter of 2025, labor migrants sent $4.8 billion to Uzbekistan, which is 21.4% more than in the same period of the previous year, according to a labor market review published by the Central Bank.

For comparison, in the second quarter of 2024, remittances had increased by 38.6%.

“The current trend is largely driven by the relative stability of exchange rates in migrant-hosting countries, rising wages, and high economic activity,” the report noted.

Growth remains particularly strong in transfers from the Baltic states, Europe, and other regions. Specifically, remittances from the Baltic states increased by 65.6% compared to the same period last year.

At the same time, growth in transfers from the United States, Russia, and Europe has slowed, standing at 10.3%, 23.7%, and 26.9%, respectively. Transfers from Asian countries remain stable.

The review emphasized that developments in external markets – particularly in Russia, Europe, and the Baltic states – as well as rising demand for migrant labor, have played an important role in shaping the current trend. This, in turn, points to the gradual diversification of migration flows.

Earlier, Kun.uz reported, citing a Central Bank review, that the growth of real wages in Uzbekistan lags behind that of neighboring countries. In April–June 2025, real wages in Uzbekistan grew by 7.3%, compared with 9.8% in Central Asian countries and 9.1% in some South Caucasus states.

It should be recalled that, according to a World Bank report released in April, personal remittances from Russia to Uzbekistan in 2024 drove a 30% increase in the total inflow, which reached nearly $15 billion. The World Bank estimated that without these remittances, the poverty rate in Uzbekistan would have been twice as high. In most Central Asian and Western Balkan countries, remittances account for more than 10% of GDP and serve as a significant source of household support.